Katayama to be first Japanese chair of IMF-World Bank development panel

Finance Minister Satsuki Katayama is set to become chair of the World Bank and International Monetary Fund’s Development Committee, which would mark the first time a Japanese official is appointed to the role.

“I would like to draw on Japan’s experience, expertise and technology in development policy and a very broad range of related economic policies, including international financial policy, and lead constructive discussions at the committee while working with other countries,” Katayama told reporters on Tuesday.

The committee, established in 1974, is currently chaired by Swedish Finance Minister Elisabeth Svantesson.

Katayama said she is expected to be appointed at the committee’s meeting on Thursday and will begin chairing it at next spring’s meetings in Washington. Her term will run for two years.

Prime Minister Sanae Takaichi said on social media platform X on Monday that she looks forward to deeper discussions on global challenges under Katayama’s leadership and to Japan contributing to the international community while supporting Japanese companies’ overseas activities and the sustainable growth of the domestic economy.

Katayama said it remains unclear whether she will attend this week’s IMF meetings in Bangkok, adding that her participation depends on approval from parliament.

“The global economy is obviously at a very delicate and fluid juncture, regardless of whether U.S. Treasury Secretary Scott Bessent attends,” she said.

Bessent will skip the annual meetings in Bangkok this week due to “domestic engagements,” according to the Financial Times.

“If I’m able to attend after receiving approval from the Diet, I would like to have in-depth discussions with my counterparts on the challenges we face, including how to respond to frontier AI,” she said.